Property News · June 13, 2020

Shenzhen housing watchdog vows to rein in buying frenzy after police disbursed 3,000 people queuing at new project launch


Shenzhen’s housing watchdog has called for an end to sales gimmicks in a bid to take the heat out of a buying frenzy gripping the southern Chinese city.The move followed crazed scenes at the launch of a new development in the city’s Guangming district as 3,000 people shrugged off concerns about Covid-19 and queued on Wednesday evening to enter a draw for the right to buy one of just 394 homes. Police had to help disburse the crowd before the tickets for the lottery-style selection process…

Source : South China Morning Post
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